Bags today November 20th | Cautious Europe, banks are running in Milan
European stock markets open sluggishly with investors looking for ideas on the central banks’ next moves. In the USA it will be an octave shorter than usual, given that, between the celebration of Thanksgiving Day and Black Friday, the Stars and Stripes price lists will remain open only three and a half days out of five. Geopolitical tensions and the prospects for global economic growth remain in the spotlight. Positive Paris (+0.12%), flat London (-0.06%) and Frankfurt (-0.02%). The Milan Stock Exchange (+0.2%) is on the rise after a sluggish start. The spread between BTPs and Bunds continues at 172 points, with the ten-year yield at 4.33%, after Moody’s rating on Italy, here is the trend of the spread.
Business Square
Piazza Affari supported by the positive performance of the banks with MPS gaining 3%. Among the credit institutions, Intesa (+2.3%), Mediobanca (+2.2%), Bper (+2.1%), Banco Bpm (+1.5%) and Unicredit (+ 1.3%). Energy purchases with Saipem (+2.1%), Eni (+1.1%) and Tenaris (+%). In the spotlight Tim (+1.2%), dealing with the events related to the sale of the network, and Leonardo (+1.2%), with the sale of a stake in Drs. Utilities are showing no particular impetus with the price of gas rising. A2a is weak (-0.1%), Hera is little changed (+0.01%), Erg is up (+0.1%). At the bottom of the list are Generali (-1%), after the nine-month accounts, and Iveco (-0.4%), here is the price list trend.
Currencies and energy
On the currency, the prospect that the Fed could begin to cut rates in May crushes the dollar to two-month lows. The euro thus extends to 1.0921 dollars from 1.0879 at the close on Friday. The single currency also indicated at 162.59 yen (from 162.94), while the Japanese currency also strengthened against the dollar at 148.86 for a dollar from 149.77. As mentioned, the price of oil is rising: the WTI for January changes hands at 76.56 dollars per barrel (+0.68%), while the similar delivery on Brent rises by 0.62% to 81.11 dollars. Natural gas in Amsterdam increased by 5% to 47.3 euros per megawatt hour.
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